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Why Comcast Stock Just Crashed 5%
Don’t look now, but shares of cable TV and internet-giant Comcast Corporation (NASDAQ: CMCSA) just shorted out, crashing 5.4% through 11:15 a.m. EDT — and it has only itself to blame. More precisely, it has CFO Michael Cavanagh to blame. Speaking at an investor conference this morning, Cavanagh revealed that Comcast is looking to “trend in line for third quarter net adds with historical averages for third quarter, but … be behind the third quarter 2019, which was a record third quarter,” reports TheFly.com today.